Nigeria - Prepared Additives For Mineral Oils - Market Analysis, Forecast, Size, Trends and Insights
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View PricingLubricant Additives Price in Nigeria - 2022
Contents:
- Lubricant Additives Price in Nigeria (CIF) - 2022
- Lubricant Additives Price in Nigeria (FOB) - 2022
- Lubricant Additives Imports in Nigeria
- Lubricant Additives Exports in Nigeria
Lubricant Additives Price in Nigeria (CIF) - 2022
In 2022, the average lubricant additives import price amounted to $3,575 per ton, rising by 17% against the previous year. In general, the import price recorded a slight expansion. The most prominent rate of growth was recorded in 2014 an increase of 29% against the previous year. As a result, import price attained the peak level of $4,205 per ton. From 2015 to 2022, the average import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the UK ($5,102 per ton), while the price for China ($1,928 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+7.7%), while the prices for the other major suppliers experienced more modest paces of growth.
Lubricant Additives Price in Nigeria (FOB) - 2022
In 2022, the average lubricant additives export price amounted to $4,182 per ton, surging by 1.6% against the previous year. Over the last decade, it increased at an average annual rate of +3.3%. The most prominent rate of growth was recorded in 2015 when the average export price increased by 11% against the previous year. The export price peaked in 2022 and is expected to retain growth in the immediate term.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Congo ($15,609 per ton), while the average price for exports to the United States ($154 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Congo (+8.1%), while the prices for the other major destinations experienced more modest paces of growth.
Lubricant Additives Imports in Nigeria
In 2022, the amount of prepared additives for mineral oils imported into Nigeria rose rapidly to 30K tons, growing by 6.1% compared with the previous year. In general, imports, however, saw a noticeable downturn. The pace of growth was the most pronounced in 2020 with an increase of 64%. As a result, imports reached the peak of 52K tons. From 2021 to 2022, the growth of imports remained at a lower figure.
In value terms, lubricant additives imports skyrocketed to $106M in 2022. Overall, imports saw a temperate expansion. The most prominent rate of growth was recorded in 2020 with an increase of 64%. As a result, imports attained the peak of $162M. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.
| Import of Lubricant Additives in Nigeria (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 11.9 | 29.8 | 8.5 | 18.3 | 15.4% |
| Belgium | 14.0 | 15.7 | 12.1 | 14.7 | 1.6% |
| Italy | 11.4 | 16.5 | 14.0 | 14.4 | 8.1% |
| France | 13.0 | 14.6 | 9.8 | 14.3 | 3.2% |
| United Arab Emirates | 2.1 | 5.3 | 6.0 | 14.0 | 88.2% |
| United States | 28.0 | 48.4 | 15.0 | 7.4 | -35.8% |
| China | 2.9 | 6.6 | 2.8 | 4.5 | 15.8% |
| Others | 15.4 | 25.3 | 16.7 | 17.9 | 5.1% |
| Total | 98.9 | 162 | 84.8 | 106 | 2.3% |
Top Suppliers of Lubricant Additives to Nigeria in 2022:
- India (4.9K tons)
- Belgium (4.0K tons)
- United Arab Emirates (3.9K tons)
- France (3.7K tons)
- Italy (3.6K tons)
- China (2.4K tons)
- United States (2.1K tons)
Lubricant Additives Exports in Nigeria
In 2022, shipments abroad of prepared additives for mineral oils decreased by -35.9% to 19 tons for the first time since 2018, thus ending a three-year rising trend. Over the period under review, exports, however, showed a significant increase. The growth pace was the most rapid in 2021 when exports increased by 223%. As a result, the exports attained the peak of 30 tons, and then shrank remarkably in the following year.
In value terms, lubricant additives exports dropped markedly to $81K in 2022. In general, exports, however, continue to indicate a significant expansion. The pace of growth appeared the most rapid in 2021 when exports increased by 230%. As a result, the exports reached the peak of $124K, and then dropped rapidly in the following year.
| Export of Lubricant Additives in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Congo | 13.4 | 28.8 | 94.4 | 64.6 | 68.9% |
| South Africa | N/A | N/A | 10.1 | 5.1 | -49.5% |
| Belgium | 1.3 | 2.4 | 6.4 | 3.6 | 40.4% |
| China | 1.2 | 2.1 | 5.6 | 3.1 | 37.2% |
| United States | 0.7 | 1.1 | 2.7 | 1.4 | 26.0% |
| Ghana | 0.6 | 1.0 | 2.6 | 1.3 | 29.4% |
| India | 0.3 | 0.4 | 0.7 | 0.6 | 26.0% |
| Others | 1.0 | 1.7 | 1.6 | 1.1 | 3.2% |
| Total | 18.6 | 37.6 | 124 | 80.8 | 63.2% |
Top Export Markets for Lubricant Additives from Nigeria in 2022:
- United States (9.1 tons)
- Congo (4.1 tons)
- China (2.5 tons)
- South Africa (1.8 tons)
- Belgium (0.8 tons)
- India (0.6 tons)
- Ghana (0.4 tons)
This report provides an in-depth analysis of the lubricant additives market in Nigeria. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 20594250 - Anti-knock preparations
- Prodcom 20594270 - Additives for lubricating oils
- Prodcom 20594290 - Additives for mineral oils or for other liquids used for the same purpose as mineral oils (including gasoline) (excluding anti-knock preparations, additives for lubricating oils)
Country coverage:
- Nigeria
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Nigeria
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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This report provides an in-depth analysis of the lubricant additives market in Nigeria.
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This report provides an in-depth analysis of the lubricant additives market in Nigeria.
521
This report provides an in-depth analysis of the lubricating oil additive market in Nigeria.
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This report provides an in-depth analysis of the anti-knock preparations market in Nigeria.
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This report provides an in-depth analysis of the global lubricant additives market.
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